Distributed Energy Storage System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW
Distributed energy storage system enables smooth integration of renewable energy sources to the main grid by reducing their variability. The distributed energy storage system helps in storing excess power generated by renewable sources in order to be used during peak demand. The growth of this market is mainly driven by increasing demand for continuous electricity, increasing investment on renewable energy projects by both developed and developing countries and rising demand for grid storage technology, especially micro-grid. Rapid industrialization and growth in purchasing power increases the demand for power, which enhances the adoption of distributed energy storage system including renewable energy storage which helps drive the market outlook over the coming years.
MARKET SCOPE
The "Global Distributed Energy Storage System Market Analysis to 2031"" is a specialized and in-depth study of the energy storage with a special focus on the global market trend analysis. The report aims to provide an overview of the distributed energy storage system market with detailed market segmentation by type, technology, application and geography. The report provides key statistics on the market status of the leading distributed energy storage system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type the market is segmented into single-phase type, three-phase type, and double-phase fire line type
- On the basis of technology the market is segmented into electro chemical technology, mechanical technology, thermal storage technology
- On the basis application, the market is segmented as transportation, grid storage, renewable energy storage and others
MARKET DYNAMICS
Drivers
- Supportive government policies for mitigating the carbon emissions
- The associated advantages of renewable technology coupled with increased R&D initiatives
Restraints
- Challenging economic conditions for converting traditional centralized business model to decentralized business model incorporates huge investment
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rise in demand for energy owing to increase in population and rapid urbanization in developing economies such as China, Indonesia, Malaysia, and India is anticipated to boost the market growth in coming years. The distributed energy storage system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the distributed energy storage system market in these regions.
IMPACT OF COVID-19 ON DISTRIBUTED ENERGY STORAGE SYSTEM MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted a decline in market growth in the year 2021. The outbreak of the pandemic led to demand-supply gap, shutdown of several manufacturing industries across the globe, which in turn, caused disruptions in raw material procurement and further led to price volatility. The withdrawal of upcoming investments and hold on for ongoing projects in renewable energy has directly influenced the market growth. However, the global situation is getting recoverd at a slow & steady pace which is anticipated to increase in coming years. Furthermore, the key players engaged in the market are also focusing on investment in distributed energy storage system which is further strengthening the market growth during the pandemic recovery period. The increase in energy demand owing to rise in population, supportive government initiatives encourageing deployment of renewable technologies, and growing awareness among consumers leds adoption of renewable energy across the globe are some of the key factors anticipated to boost the demand for the distributed energy storage system market in the projected period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rise in demand for energy owing to increase in population and rapid urbanization in developing economies such as China, Indonesia, Malaysia, and India is anticipated to boost the market growth in coming years. The distributed energy storage system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the distributed energy storage system market in these regions.
IMPACT OF COVID-19 ON DISTRIBUTED ENERGY STORAGE SYSTEM MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted a decline in market growth in the year 2021. The outbreak of the pandemic led to demand-supply gap, shutdown of several manufacturing industries across the globe, which in turn, caused disruptions in raw material procurement and further led to price volatility. The withdrawal of upcoming investments and hold on for ongoing projects in renewable energy has directly influenced the market growth. However, the global situation is getting recoverd at a slow & steady pace which is anticipated to increase in coming years. Furthermore, the key players engaged in the market are also focusing on investment in distributed energy storage system which is further strengthening the market growth during the pandemic recovery period. The increase in energy demand owing to rise in population, supportive government initiatives encourageing deployment of renewable technologies, and growing awareness among consumers leds adoption of renewable energy across the globe are some of the key factors anticipated to boost the demand for the distributed energy storage system market in the projected period.
MARKET PLAYERS
The report covers key developments in the distributed energy storage system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the distributed energy storage system market are anticipated to provide lucrative growth opportunities in the future with the rising demand for distributed energy storage system in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the distributed energy storage system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- GENERAL ELECTRIC
- LG Energy Solution
- Siemens
- Schneider Electric
- BYD Motors Inc.
- Emerson Electric Co.
- Johnson Controls
- NEC Corporation
- Opus One Solutions
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table Of Contents
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Distributed Energy Storage System Market - By Type
1.3.2 Distributed Energy Storage System Market - By Technology
1.3.3 Distributed Energy Storage System Market - By Application
1.3.4 Distributed Energy Storage System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. DISTRIBUTED ENERGY STORAGE SYSTEM - GLOBAL MARKET OVERVIEW
6.2. DISTRIBUTED ENERGY STORAGE SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SINGLE-PHASE TYPE
7.3.1. Overview
7.3.2. Single-phase Type Market Forecast and Analysis
7.4. THREE-PHASE TYPE
7.4.1. Overview
7.4.2. Three-phase Type Market Forecast and Analysis
7.5. DOUBLE-PHASE FIRE LINE TYPE
7.5.1. Overview
7.5.2. Double-phase Fire Line Type Market Forecast and Analysis
8. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. ELECTRO CHEMICAL TECHNOLOGY
8.3.1. Overview
8.3.2. Electro Chemical Technology Market Forecast and Analysis
8.4. MECHANICAL TECHNOLOGY
8.4.1. Overview
8.4.2. Mechanical Technology Market Forecast and Analysis
8.5. THERMAL STORAGE TECHNOLOGY
8.5.1. Overview
8.5.2. Thermal Storage Technology Market Forecast and Analysis
9. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. TRANSPORTATION
9.3.1. Overview
9.3.2. Transportation Market Forecast and Analysis
9.4. GRID STORAGE
9.4.1. Overview
9.4.2. Grid Storage Market Forecast and Analysis
9.5. RENEWABLE ENERGY STORAGE
9.5.1. Overview
9.5.2. Renewable Energy Storage Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Distributed Energy Storage System Market Overview
10.1.2 North America Distributed Energy Storage System Market Forecasts and Analysis
10.1.3 North America Distributed Energy Storage System Market Forecasts and Analysis - By Type
10.1.4 North America Distributed Energy Storage System Market Forecasts and Analysis - By Technology
10.1.5 North America Distributed Energy Storage System Market Forecasts and Analysis - By Application
10.1.6 North America Distributed Energy Storage System Market Forecasts and Analysis - By Countries
10.1.6.1 United States Distributed Energy Storage System Market
10.1.6.1.1 United States Distributed Energy Storage System Market by Type
10.1.6.1.2 United States Distributed Energy Storage System Market by Technology
10.1.6.1.3 United States Distributed Energy Storage System Market by Application
10.1.6.2 Canada Distributed Energy Storage System Market
10.1.6.2.1 Canada Distributed Energy Storage System Market by Type
10.1.6.2.2 Canada Distributed Energy Storage System Market by Technology
10.1.6.2.3 Canada Distributed Energy Storage System Market by Application
10.1.6.3 Mexico Distributed Energy Storage System Market
10.1.6.3.1 Mexico Distributed Energy Storage System Market by Type
10.1.6.3.2 Mexico Distributed Energy Storage System Market by Technology
10.1.6.3.3 Mexico Distributed Energy Storage System Market by Application
10.2. EUROPE
10.2.1 Europe Distributed Energy Storage System Market Overview
10.2.2 Europe Distributed Energy Storage System Market Forecasts and Analysis
10.2.3 Europe Distributed Energy Storage System Market Forecasts and Analysis - By Type
10.2.4 Europe Distributed Energy Storage System Market Forecasts and Analysis - By Technology
10.2.5 Europe Distributed Energy Storage System Market Forecasts and Analysis - By Application
10.2.6 Europe Distributed Energy Storage System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Distributed Energy Storage System Market
10.2.6.1.1 Germany Distributed Energy Storage System Market by Type
10.2.6.1.2 Germany Distributed Energy Storage System Market by Technology
10.2.6.1.3 Germany Distributed Energy Storage System Market by Application
10.2.6.2 France Distributed Energy Storage System Market
10.2.6.2.1 France Distributed Energy Storage System Market by Type
10.2.6.2.2 France Distributed Energy Storage System Market by Technology
10.2.6.2.3 France Distributed Energy Storage System Market by Application
10.2.6.3 Italy Distributed Energy Storage System Market
10.2.6.3.1 Italy Distributed Energy Storage System Market by Type
10.2.6.3.2 Italy Distributed Energy Storage System Market by Technology
10.2.6.3.3 Italy Distributed Energy Storage System Market by Application
10.2.6.4 United Kingdom Distributed Energy Storage System Market
10.2.6.4.1 United Kingdom Distributed Energy Storage System Market by Type
10.2.6.4.2 United Kingdom Distributed Energy Storage System Market by Technology
10.2.6.4.3 United Kingdom Distributed Energy Storage System Market by Application
10.2.6.5 Russia Distributed Energy Storage System Market
10.2.6.5.1 Russia Distributed Energy Storage System Market by Type
10.2.6.5.2 Russia Distributed Energy Storage System Market by Technology
10.2.6.5.3 Russia Distributed Energy Storage System Market by Application
10.2.6.6 Rest of Europe Distributed Energy Storage System Market
10.2.6.6.1 Rest of Europe Distributed Energy Storage System Market by Type
10.2.6.6.2 Rest of Europe Distributed Energy Storage System Market by Technology
10.2.6.6.3 Rest of Europe Distributed Energy Storage System Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Distributed Energy Storage System Market Overview
10.3.2 Asia-Pacific Distributed Energy Storage System Market Forecasts and Analysis
10.3.3 Asia-Pacific Distributed Energy Storage System Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Distributed Energy Storage System Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Distributed Energy Storage System Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Distributed Energy Storage System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Distributed Energy Storage System Market
10.3.6.1.1 Australia Distributed Energy Storage System Market by Type
10.3.6.1.2 Australia Distributed Energy Storage System Market by Technology
10.3.6.1.3 Australia Distributed Energy Storage System Market by Application
10.3.6.2 China Distributed Energy Storage System Market
10.3.6.2.1 China Distributed Energy Storage System Market by Type
10.3.6.2.2 China Distributed Energy Storage System Market by Technology
10.3.6.2.3 China Distributed Energy Storage System Market by Application
10.3.6.3 India Distributed Energy Storage System Market
10.3.6.3.1 India Distributed Energy Storage System Market by Type
10.3.6.3.2 India Distributed Energy Storage System Market by Technology
10.3.6.3.3 India Distributed Energy Storage System Market by Application
10.3.6.4 Japan Distributed Energy Storage System Market
10.3.6.4.1 Japan Distributed Energy Storage System Market by Type
10.3.6.4.2 Japan Distributed Energy Storage System Market by Technology
10.3.6.4.3 Japan Distributed Energy Storage System Market by Application
10.3.6.5 South Korea Distributed Energy Storage System Market
10.3.6.5.1 South Korea Distributed Energy Storage System Market by Type
10.3.6.5.2 South Korea Distributed Energy Storage System Market by Technology
10.3.6.5.3 South Korea Distributed Energy Storage System Market by Application
10.3.6.6 Rest of Asia-Pacific Distributed Energy Storage System Market
10.3.6.6.1 Rest of Asia-Pacific Distributed Energy Storage System Market by Type
10.3.6.6.2 Rest of Asia-Pacific Distributed Energy Storage System Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Distributed Energy Storage System Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Distributed Energy Storage System Market Overview
10.4.2 Middle East and Africa Distributed Energy Storage System Market Forecasts and Analysis
10.4.3 Middle East and Africa Distributed Energy Storage System Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Distributed Energy Storage System Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Distributed Energy Storage System Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Distributed Energy Storage System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Distributed Energy Storage System Market
10.4.6.1.1 South Africa Distributed Energy Storage System Market by Type
10.4.6.1.2 South Africa Distributed Energy Storage System Market by Technology
10.4.6.1.3 South Africa Distributed Energy Storage System Market by Application
10.4.6.2 Saudi Arabia Distributed Energy Storage System Market
10.4.6.2.1 Saudi Arabia Distributed Energy Storage System Market by Type
10.4.6.2.2 Saudi Arabia Distributed Energy Storage System Market by Technology
10.4.6.2.3 Saudi Arabia Distributed Energy Storage System Market by Application
10.4.6.3 U.A.E Distributed Energy Storage System Market
10.4.6.3.1 U.A.E Distributed Energy Storage System Market by Type
10.4.6.3.2 U.A.E Distributed Energy Storage System Market by Technology
10.4.6.3.3 U.A.E Distributed Energy Storage System Market by Application
10.4.6.4 Rest of Middle East and Africa Distributed Energy Storage System Market
10.4.6.4.1 Rest of Middle East and Africa Distributed Energy Storage System Market by Type
10.4.6.4.2 Rest of Middle East and Africa Distributed Energy Storage System Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Distributed Energy Storage System Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Distributed Energy Storage System Market Overview
10.5.2 South and Central America Distributed Energy Storage System Market Forecasts and Analysis
10.5.3 South and Central America Distributed Energy Storage System Market Forecasts and Analysis - By Type
10.5.4 South and Central America Distributed Energy Storage System Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Distributed Energy Storage System Market Forecasts and Analysis - By Application
10.5.6 South and Central America Distributed Energy Storage System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Distributed Energy Storage System Market
10.5.6.1.1 Brazil Distributed Energy Storage System Market by Type
10.5.6.1.2 Brazil Distributed Energy Storage System Market by Technology
10.5.6.1.3 Brazil Distributed Energy Storage System Market by Application
10.5.6.2 Argentina Distributed Energy Storage System Market
10.5.6.2.1 Argentina Distributed Energy Storage System Market by Type
10.5.6.2.2 Argentina Distributed Energy Storage System Market by Technology
10.5.6.2.3 Argentina Distributed Energy Storage System Market by Application
10.5.6.3 Rest of South and Central America Distributed Energy Storage System Market
10.5.6.3.1 Rest of South and Central America Distributed Energy Storage System Market by Type
10.5.6.3.2 Rest of South and Central America Distributed Energy Storage System Market by Technology
10.5.6.3.3 Rest of South and Central America Distributed Energy Storage System Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. DISTRIBUTED ENERGY STORAGE SYSTEM MARKET, KEY COMPANY PROFILES
12.1. ABB
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GENERAL ELECTRIC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. LG ENERGY SOLUTION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SIEMENS
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. SCHNEIDER ELECTRIC
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. BYD MOTORS INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. EMERSON ELECTRIC CO.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. JOHNSON CONTROLS
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. NEC CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. OPUS ONE SOLUTIONS
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List Of Companies
- ABB
- GENERAL ELECTRIC
- LG Energy Solution
- Siemens
- Schneider Electric
- BYD Motors Inc.
- Emerson Electric Co.
- Johnson Controls
- NEC Corporation
- Opus One Solutions
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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